Finance & Accounting
Gain Absolute Financial Control. Tame Costs. Boost Revenues.
In today’s competitive world, for any organization, sound financial planning and management is very important to ensure sustained growth and good health of business. For enabling this, you need to have an end-to-end view of your business finances. Ramco Finance & Accounting helps you to achieve all this and a lot more. The solution can help transform your hitherto administrative financial tasks into well-synchronized processes to enable the best possible financial supply chain management.
With Ramco Finance & Accounting, you can automate your entire financial management process. It is the most comprehensive end-to-end, full-fledged, self-contained financial management system that is so essential for monitoring your bottom-line and streamlining your entire financial management process. It helps you to maximize profits and maintain liquidity & financial stability in the most efficient way. The solution helps your finance department to strengthen short-term performance, and enable long-term growth.
Available via Cloud as well as on-premises model, Ramco Finance & Accounting offers full suite of components that can handle the processes involved in General Accounting, Receivable Management, Payable Management, Fixed Assets Accounting, and Management Accounting besides providing features for dealing with country-specific tax regulations.
Ramco Finance & Accounting empowers you to obtain online, up-to-date information, set higher standards for operational excellence, mitigate risks and comply with statutory rules and regulations. You can also perform job order costing and tracking and value your fixed assets as they are installed and removed. You can administer your payables and receivables through seamless integration between financials, sales and execution functions and enhance enterprise-wide performance.
What’s more, Ramco Finance & Accounting supports transactions to be carried out in multiple currencies for multi-national, multi-statutory scenarios. This is of immense significance while handling imports to and exports from different countries. The solution is capable of catering the requirements of multi-national global enterprises as well as small organizations with local operations.
Flexible Book keeping. Impeccable Reporting. Unparalleled Financial Consolidation.
Long hours, mismatched figures, audit nightmares have traditionally been a major concern for Accounts departments across organizations, worldwide. In such challenging scenarios, Ramco Finance & Accounting’s General Accounting solution can be an ideal solution that provides flexibility under changing business scenarios and assures availability of accurate MIS reports based on real-time data.
Designed to handle multiple groups, companies and business units, the General Accounting module of Ramco Finance & Accounting solution can meet all your financial consolidation requirements – starting from a single company to the Group hierarchy. You can benefit from multiple definitions of Chart of Accounts for Posting, Reporting and Consolidation. You can effectively define your focus reporting segments and simulate consolidation reports for your management perspective. The solution has capabilities for plugging-in country specific tax extensions to suit local needs. You can handle multiple currency conversions for statutory reporting. The solution is fully integrated with Ramco’s Supply Chain Management, Production and Maintenance modules.
- Effectively maintain your financial setup by defining business locations, finance books, account rules, account budgets, and a lot more
- Take a quick view of financial statements and key financial ratios
- Access online updates on budget versus actual account balances, drilling down to transaction level details from Trial Balance
Establish Hassle-free Relationship with Vendors.
Managing your Account Payables simply does not stop with recording supplier bills and accounting for expense of creditors. Your Payable Management system must allow you to pay within due dates to maximize discounts, shuffle priorities in a crunch, batch together payments as per criteria that is specific to your business, collaborate with your suppliers for exchange of documents, and resolve differences. Ramco Finance & Accounting’s Payable Management module enables you to do all this and a lot more. The solution empowers you to take effective control over cash flows while making payments by checking for unadjusted prepayments and Bank/Cash balance availability.
You can automate your hitherto administrative, time-consuming processes and reduce transaction costs through a host of features like Supplier Invoice, Debit/Credit Notes, Advances & Deposits, Supplier Payments, Sundry Payments and Statements and Sub Ledger. The solution is tightly integrated with Ramco Logistics module, which enables you to effectively track liability created from receipt of goods and services.
- Monitor, track and process payments to suppliers with ease
- Process multiple payment modes in multiple currencies
- Take effective control over cash flows.
Monitor and Manage Your Working Capital, Most Effectively.
Ramco Finance & Accounting’s Receivable Management module is designed to empower your business and to provide you an up-to-date monitor to track the most critical component of your business, your working capital. This will enable you to manage customer receivables in the most effective way. The solution allows you to handle all your varied processes such as Customer receipt application, Balance adjustments and transfers, Credit risk management, Dunning and Reporting. You can now make centralized collection for invoices raised in multiple locations, record Debit/Credit notes, adjust them for any discrepancies, and manually create receipts with automatic adjustments.
Ramco’s Receivable Management solution is also closely integrated with Ramco’s Sales, Shipping and Inventory applications to process sales invoice accounting in real-time. The solution also helps you move on to a collaborative mode with your customers. It can electronically interchange documents with customers using the ‘Collaboration Manager’ feature to further enable customers to query account details through a portal.
- Manage customer receivables in an effective way.
- Collaborate closely with your customers and be prompt with their requests.
- Make centralized collection and processing for invoices raised in multiple locations.
Fixed Assets Accounting
Manage Your Capital Investment Lifecycle with Precision.
Ramco Fixed Assets Accounting solution comes with a host of features and automated tasks that makes dealing with your physical assets almost effortless. Whether it is simple equipment or a complex plant and machinery, the solution enables you to keep track of your assets, in the most detailed manner. For existing assets, you can also bring in Fixed Assets opening balance from the legacy system and create various asset classes, depreciation rules, and asset locations with hierarchy.
With Ramco Fixed Assets Accounting, you can handle all activities involved with asset management, through multiple depreciation rules, ranging from acquisition of assets, expense capitalization, insurance premium payments and claims tracking, and calculation of depreciation to revaluation of assets, tracking of asset transfers and sale/retirement of assets.
- Effectively record and maintain data pertaining to the fixed assets of your organization.
- Capitalize newly acquired assets and gauge increase/decrease in assets value and dispose them at the right time.
Establish a Firm Grip on Organization-wide Costs.
Ramco Management Accounting solution offers comprehensive functionalities to plan and control your costs with precision. The software supports you to execute budgeting of operating costs and expense utilization and reconciliation. You can look at all kinds of costs in relation to its operating expenses and allocate them in a structured manner. You can also forecast and budget to recover operating expenses and set profit expectations.
Ramco Management Accounting allows you to allocate indirect costs using user-defined rules and perform multiple simulations using ‘what if’ scenarios. You can also integrate the feature with your manufacturing solution, provide activity based cost rates for costing your production orders and perform multiple variance analysis. By thoroughly and timely analyzing your company’s operating expenses and planned versus actual variances, you can help your company successfully achieve its financial goals.
- Measure costs and profitability. Maintain financial control
- Define multiple costs/profit centers, track performance, and arrive at profit and loss reports, separately for each cost center.
- Perform profitability analysis by generating reports, which allow you to slice and dice of data to assess multi-dimensional sales profitability.
Global Taxation Solution
Global Taxation and Statutory Compliance, Simplified.
Ramco Finance & Accounting’s Global Taxation solution includes features for setting up country-specific taxes that help you to comply with multi-country tax regulations. System-delivered definitions are available for Tax Core categories, Tax classes and Tax Account Types. You can specify tax accounting rules by grouping taxable items, defining tax codes for a combination of parameters like assesse type, tax categories and classes. The solution offers support for accounting standards of multiple countries including Swiss VAT & European VAT.
The solution enables you to compute tax liability and remit taxes to the Government agency in the most simplified and automated manner.
- Avail system-delivered tax rule definitions and parameter settings.
- Receive periodical tax amendments as free system updates from Ramco.
- Explore the most simplified process for automated tax computation and remittance.
The Perfect Solution to handle your Business Finances.
This module of Ramco Finance & Accounting offers the most appropriate solution to automate the financial service functions undertaken by your organization like investments in various forms such as fixed return investments like bonds, certificates of deposit, fixed deposits, etc., which regularly generate a fixed amount of interest income.
The module offers features such as Financial Services Setup, Trust Receipt Funding, Bills Discounting, Bank Guarantee, Investment Transactions, Trust Receipt Loan Redemption and Bills Discounting, respectively, which can help you streamline and automate the entire chain of activities related to financial services.
What’s more, the Reports component of the module helps you generate relevant information that can be interpreted, analyzed and used for various decision-making processes in the business.
- Streamline and automate Financial services management, end-to-end.
- Generate insightful reports related to financial services and take informed business decisions.
DecisivEdge™ is the 1st Ramco Next Generation Financial partner in the US and our dedicated team of engineers are here to help.
For more information, please complete a brief web form and we will connect with you right away.
“Ramco is setting itself apart by not just looking to optimize operations but to improve productivity and enable new capabilities that are critical to the businesses of the future. We are excited to partner with Ramco on this journey,” said Sukumar Narayanan, President of DecisivEdge. “We have a strong track record of delivering value for financial services companies. With a wide range of capabilities including business optimization, technology strategy and solutions delivery and analytics, DecisivEdge and Ramco together offer significant value to finance companies, giving them an end-to-end solution and services that will help them become more efficient and grow their business faster,” added Narayanan.